↑ Return to For Sellers

The Transparent System

The Transparent System is a method I have developed over the years that keeps the parties informed on the progress of a loan application. It was originally set up to hold me accountable.  What I soon discovered is that it held everyone on the distribution list accountable as well. It is impossible to pass the buck if everyone is aware of what is going on. Other benefits soon became apparent; it shortened the processing time line, relieved most of the stress and oddly enough promotes co-operation among the parties.

It eliminates the unknown and helps keep the transaction moving forward.  I think not knowing what is going on creates fear and anxiety and my system eliminates that problem.  No one, certainly not me, wants all of the other parties to know the reason we are not going to be able to close on time is because of their inactivity.  

You may think that only the buyer is being tracked by my system, nope!  There are many items on both sides that must be taken care of before we can close.  A simple example is we need the seller’s help getting pay off figures from their lender if there are mortgages against the property.  If we request their help and it isn’t forthcoming everyone is aware of the issue.  The same holds true for the buyer, the realtors and the good old loan officer.   

Privacy laws are very strict and if one of my clients does not desire to use this system it is their right to do so.  However, there is nothing disclosed while using the system that would not come out one way or another.  I am very careful not to divulge personal information that may place my client at risk. 

The Transparent System is solely about logistics.  It is a collection of forms that track the status and a series of emails that are distributed simultaneously to the buyers, sellers and their respective realtors.  Everyone is in the loop.  What is the quickest and easiest way to get from point A to point B?  Is everyone pulling together to make it happen?   Sellers love it as much as buyers do.

Leave a Reply